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Kenya’s Slow Regulatory Response Hindering Cryptocurrency Growth
By Korir Isaac / Published June 9, 2021 | 12:07 pm
KEY POINTS
Kenya has no clear regulation governing the digital currency space, something that has left the sector open to fraud. There is an urgent need for the Central Bank of Kenya (CBK) to enhance the adoption of cryptocurrencies by passing the relevant regulations.
A report published in 2020 by Chainlysis on the Global Global Cryptocurrency Adoption Index listed Kenya among the 10-top cryptocurrency-adopting nations in the world. But despite the heavy adoption of this blockchain technology, Kenya’s heavy-handed regulatory response and slow compliance is hindering digital economy growth. ....

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